I appear to have lost my credit score!!!

blodwin

I used the experian free trial to check my credit history a couple of weeks ago, and looked at my credit score at the same time. Due to some careful money handling over the last few years, my score was 929 and I gave myself a small pat on the back.

Whilst out shopping yesterday, I was asked if I'd take out a store card - normally I'd say no, but being offered an incentive of 15% I decided to take it out and cancel it straight after the purchase. This didn't quite work out - I was declined.

I checked my report as soon as I got home, and nothing appeared to have changed - but on calling on my score again it had gone down to 532!!!

I've spoken to experian today, and have been informed that the only info on my report to have changed is that there's been 6 credit checks on my history in the last month or so, and that is what must've done it; I've oredered 2 catalogues, changed utility providers, opened a lottery account, got a new credit card, taken out life ins - and that's 6 searches.

My credit score now says 'very poor' and the lady on the phone said I need to 'not apply for anything at all for 6 months or so and it should start to creep up again'.

Does anyone have any knowledge or experience of this? I had no idea that a few benign searches could have such a detrimental effect on my score and make me virtually uncreditworthy!!! It's not like I've just applied for a huge amount of credit!

Thanks for reading, and appologies for the War and Peace length post!

YorkshireBoy

How many of the searches are marked as unrecorded enquiries?

BTW, 6 searches in a month (if some of them are not unrecorded enquiries) is not "a few"...it's a sign of 'desperation' to lenders' scoring systems - and these are the "scores" that count.

blodwin

Just the camelot one is unrecorded.

I understand what your saying about the 'desperation' thing - but I think this is where the automated system is falling down. I wasn't desperately applying for credit. But I suspect that's been debated to death on these forums before.